Excerpt from the book
called 13 Bankers by Johnson and Kwak / Petikan dari buku yang dipanggil 13
Bankers oleh Johnson dan Kwak
·
“The failure to regulate not only derivatives,
but many other financial innovations, made possible a decade long financial
frenzy that ultimately created the worst financial crisis and deepest recession
the world has endured since World War II.”
Comment
This is
what happens when finance is not governed by Shariah.
·
“Derivatives grew to over USD680 trillion in
face value and Credit Default Swaps grew to over USD50 trillion by 2008
contributing to the inflation of the housing bubble. When that bubble burst,
the collapse in the value of securities based on the US housing market
triggered the financial crisis. US and other governments bailed out their
banking sectors with rescue packages worth hundred of trillions of dollars.”
Comment
These
bail outs are by creation of fiat money out of thin air which is fraudulent and
a thievery of the ordinary man’s purchasing power